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TowerJazz Receives Supplier Excellence Award from MACOM

NEWPORT BEACH, Calif. --(Business Wire)--

TowerJazz,
the global specialty foundry leader, today announced it has received the
2013 Supplier Excellence Award from M/A-COM Technology Holdings
Solutions Inc. (MACOM), a leading provider of high performance analog
semiconductor solutions for use in wireless and wireline applications
across the radio frequency (RF), microwave and millimeter wave spectrum.
In 2013, MACOM acquired Mindspeed Technologies (News - Alert), Inc., a leading supplier
of semiconductor solutions for communications infrastructure
applications, which has been a TowerJazz customer for over 10 years.
This award recognizes the foundry's continued support, partnership
commitment and delivery performance to Mindspeed and now MACOM.

MACOM utilizes a broad range of TowerJazz's specialty process offerings
such as mixed-signal/CMOS, RF CMOS, BiCMOS and SiGe BiCMOS, including
SBC18H2 and SBC18H3 advanced nodes, to develop a variety of products
such as cross point switches, TIAs, laser drivers, CDRs, PAs and
equalizers.

"Mindspeed has been a long time customer of TowerJazz and we are
extremely pleased to continue addressing it and MACOM's nextgeneration
technology needs year after year to manufacture their leading-edge
devices," said Todd Mahlen, TowerJazz Vice President of North American
Sales. "This award demonstrates our commitment to partnering with our
customers and providing leading edge technology to enable their new
products and consistently support their on-time delivery needs. In
addition, this is confirmation of our worldwide manufacturing excellence
while providing the best technical and design solutions for our
customers' specific needs."

About TowerJazz

Tower Semiconductor Ltd. (News - Alert) (NASDAQ: TSEM) (TASE: TSEM), its fully owned
U.S. subsidiary Jazz Semiconductor, Inc. and its fully owned Japanese
subsidiary TowerJazz Japan, Ltd., operate collectively under the brand
name TowerJazz, the global specialty foundry leader. TowerJazz
manufactures integrated circuits, offering a broad range of customizable
process technologies including: SiGe, BiCMOS, Mixed-Signal/CMOS, RFCMOS,
CMOS Image Sensor, Power Management (BCD), and MEMS capabilities.
TowerJazz also provides a world-class design enablement platform that
enables a quick and accurate design cycle. In addition, TowerJazz
provides (TOPS) Transfer Optimization and development Process Services
to IDMs and fabless companies that need to expand capacity. TowerJazz
offers multi-fab sourcing with two manufacturing facilities in Israel,
one in the U.S., and four in Japan (three of which are through a joint
venture with Panasonic (News - Alert) Corporation). For more information, please visit www.towerjazz.com.

Safe Harbor Regarding Forward-Looking Statements

This press release includes forward-looking statements, which are
subject to risks and uncertainties. Actual results may vary from those
projected or implied by such forward-looking statements. A complete
discussion of risks and uncertainties that may affect the accuracy of
forward-looking statements included in this press release or which may
otherwise affect TowerJazz's business is included under the heading
"Risk Factors" in Tower's most recent filings on Forms 20-F, F-3, F-4
and 6-K, as were filed with the Securities and Exchange Commission (the
"SEC (News - Alert)") and the Israel Securities Authority and Jazz's most recent
filings on Forms 10-K and 10-Q, as were filed with the SEC,
respectively. Tower and Jazz do not intend to update, and expressly
disclaim any obligation to update, the information contained in this
release.